NEW DELHI: The government will keep a close watch on gold imports after a spurt in the yellow metal coming into the country led to India's trade deficit widening to an 18-month high in November. "Gold imports have risen phenomenally and the government would examine the impact of last month's revision of the socalled 80:20 rule," commerce secretary Rajeev Kher said in Mumbai on Tuesday. "I am sure the government would like to watch the consequences of that revision.

Both domestic and external factors have helped the Indian rupee consolidate its position from Rs. 68.85 to a dollar on 28 August 2013 to the present level of Rs. 60 a dollar. The Indian government's initiatives to bring the current account deficit under control and the RBI's policy stance, while maintaining the export competitiveness, helped the rupee appreciate. Also, is the expectation of a business-friendly government headed by Narendra Modi behind this sudden surge in rupee? Only a part can be explained by this facator.

KOLKATA: Sri Lanka's central bankers are probably more worried about the accelerated fall in the Indian rupee in the past four months than the Reserve Bank of India governor Duvvuri Subbarao . And that's good news. The worst performance of the Indian rupee in Asia Pacific this year at 16% depreciation to the US dollar is probably doing more good in boosting exports than the numerous policies from the government. Exports of textiles, auto component and numerous other manufactured products are beginning to look up as for many countries such as Sri Lanka , the US and Germany it is profitable to import from India than China where the yuan has appreciated.

The rupee has seen a historic rise against the dollar in the recent past, with the value of the rupee against the dollar rising to as much as Rs 43. In the midst of the ups and downs, the issue in question remains. There is no doubt that the dollar is losing ground. What does it mean for the small investor? Within the investor categories there is one bunch of people whose position we shall consider closely. These are all those holding savings deposits in foreign exchange, who may be on shaky ground.

NEW DELHI: The Delhi High Court today sought a response from government on a plea for ban on those air carriers based here which do not accept Indian currency for sale of duty-free products and services on their inbound and outbound flights. A bench of Chief Justice G Rohini and Rajiv Sahai Endlaw also issued notices to the Ministry of Civil Aviation and Ministry of Finance seeking their responses before May 20. "We issue notice. You file your counter," the judge said, adding that also examine the facts on what basis the airlines are not accepting Indian Rupee.

CHANDIGARH: Cement imports from Pakistan through Attari-Wagah route has almost come to a halt with record rise in US dollar against rupee, eliminating the viability for its import, traders said here. "There are no fresh orders taking place for import of cement from Pakistan because of weakening of rupee against the US dollar," Amritsar-based leading cement importer M P Singh Chattha told PTI on Friday. Importers pointed out that there was now no viability of importing cement from the neighbouring country as weakening of rupee had completely brought the pricing of Pakistan's cement on par with that of Indian one. "Now, price of Indian cement is on par with as Pakistan's cement price because of rise in US dollar against rupee.

MUMBAI: The Indian rupee on Tuesday depreciated by 10 paise to 46.57 against the US currency in early trade largely in line with other weak Asian currencies. Dollar's demand from importers also put some pressure on the Indian rupee. At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 10 paise down at 46.57 a dollar. The rupee ended 14 paise higher at 46.47/48 against the US currency in the previous session. Forex dealers said besides losses in other Asian currencies against the dollar, expectations of fresh capital outflows by foreign funds from the stock market also weighed on rupee's sentiments.

MUMBAI: Indian rupee rose marginally by 2 paise to 46.32 in opening trade on Friday, extending its rally for the sixth session, on hopes of more capital inflows by funds after better-than-expected results by IT major Infosys Technologies and firming trend on other Asian bourses. However, dollar's gains against major currencies capped rupee rise. At the Interbank Foreign Exchange (Forex) market, the local unit appreciated by 2 paise to 46.32, the highest since September last year.

NEW DELHI: The Union Cabinet is expected to finalise the design of the rupee on Thursday. It is expected to give its nod to the numerical representation for the Indian rupee that could be the Hindi alphabet R with two lines. In the budget this year, Finance Minister Pranab Mukherjee had said in the ensuing year, we intend to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture. "With this, the rupee will join the select club of currencies, such as the US dollar, British pound sterling, euro and Japanese yen that have a clear distinguishing identity, he added.